Debt Collection

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George Y. Yiangou LLC may assist and act on behalf of our clients with discretion, professionalism and sensitivity on any debt collection matter in Cyprus. With our in-house debt collection recovery techniques, we are able to provide our clients with accurate and valuable assistance or advice. We divide debt collection into two major stages: extrajudicial debt collection and judicial debt collection.

Our prime concern is to try and negotiate with every debtor in order to avoid court intervention. The procedure followed by our experienced collection team, is to contact the debtors and convince them to settle their outstanding amount due by sending official notifications, demand letters, emails and through telephone calls. Most of the cases are resolved during the extrajudicial collection stage, however, in the event where a debtor neglects to pay, the case is handed over to the legal department and the assigned lawyer will try to persuade the debtor to pay amicably within a specified timeframe agreed with the client.

In case the amicable phase proves to be ineffective and all efforts to recover the debt have been exhausted, we would then recommend to proceed to the judicial collection stage. Our main concern is always our clients’ best interest, therefore, prior to filing any legal measures the case is studied in detail and the legal opinion is given to our clients for their consideration, outlining the success or the risk factors of the case. Once a judgment is issued, the lawyer will proceed with all the relevant measures and take any action available for the execution proceedings.

In addition to the above, our firm represents both major export credit insurance companies and well-known debt collection agencies for their collection requirements, not only in Cyprus but also in Greece, Turkey, the Middle East, North Africa, Africa and Eastern Europe. We cooperate with a network of professional and reliable Law Firms in all these areas for the judicial debt collections.

Whether you choose to consult us in either the extrajudicial or judicial debt collection stages in Cyprus or abroad, our office is ready to assist you.